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ARM shares continue to climb
CHIPMAKER ARM Holdings, whose technology powers Apple’s iPad and iPhone gadgets, posted a further jump in sales and profits yesterday as the stock market darling continues to soar.
Shares in the Cambridge-based technology firm have surged by 20 per cent in the past year amid the wider stock market turmoil and last night closed 12p higher at 609.5p.
ARM signed a further 25 licences in the final three months of last year for its microchip technology to be used in a range of products, including digital TVs, mobile computers and smartphones.
The group, which posted a 45 per cent increase in pre-tax profits to £69 million in the quarter, continues to benefit from strong demand for smartphones and tablet computers as well as the success of major customers such as Apple, which last week reported record results.
ARM’s chips are used in 95 per cent of smartphones, 90 per cent of computer hard disk drives and 80 per cent of digital cameras.
Revenues rose by 21 per cent to £137.8m after 1.2 billion chips were shipped.
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